MIRA INFORM REPORT

 

 

Report Date :

10.07.2012

 

IDENTIFICATION DETAILS

 

Name :

ENGINEER INC

 

 

Registered Office :

2-8-9 Higashi-Imazato Higashinariku Osaka537-0011

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

January 1972

 

 

Com. Reg. No.:

1200-01-013521 (Osaka-Higashinariku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of hand tools

 

 

No. of Employees :

30

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

ENGINEER INC

 

 

REGD NAME

 

KK Engineer

 

 

MAIN OFFICe

 

2-8-9 Higashi-Imazato Higashinariku Osaka537-0011 JAPAN

Tel: 06-6974-0028      Fax: 06-6974-5661

 

URL:               http://www.engineer.jp

E-Mail address:        kataoka@engineer.jp

 

 

ACTIVITIES

 

Mfg of hand tools

 

 

BRANCHES

 

Tokyo

 

 

FACTORIES

 

At the caption address

 

 

OFFICERS

 

MITSUHIRO SHIMAZAKI, PRES

Katsujiro Okamoto, ch                       Yasuo Hori, dir

Yoshiro Nasu, dir                   

 

Yen Amount:   In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES      FAIR                            A/SALES         Yen 1,100 M

PAYMENTS No Complaints                     CAPITAL         Yen 20 M

TREND                      SLOW                          WORTH          Yen 273 M

STARTED      1972                            EMPLOYES    30

 

 

COMMENT

 

MFR OF HAND TOOLS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established originally in 1948 by K Okamoto in order to make saws, on his account.  Incorporated in 1972 as Futaba Tool Mfg Co Ltd and started to mfg hand tools.  In June 2002 renamed as captioned.  This is a specialized mfr of hand tools: screw drivers, soldering tools, pliers, other (See OPERATION).  Goods are exported.  Clients include machine tools makers.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed.

 

The sales volume for Dec/2011 fiscal term amounted to Yen 1,100 million, a 10% up from Yen 1,000 million in the previous term.  Exports rose into China and other S/E Asian countries.  The net profit was posted at Yen 10 million, similarly in the previous period.

 

For the current term ending Dec 2012 the net profit is projected to mark time at Yen 10 million, on a similar turnover, at Yen 1,100 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

REGISTRATION

 

Date Registered:  Jan 1972

Regd No.:           1200-01-013521 (Osaka-Higashinariku)

Legal Status:    Limited Company (Kabushiki Kaisha)

Authorized:      160,000 shares

Issued:                          40,000 shares

Sum:                  Yen 20 million

    Major shareholders (%): Katsujiro Okamoto, Mitsuhiro Takasaki (--100)

No. of shareholders: 2

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures hand tools (100%)

 

(Mfg items): screw drivers, pliers, nippers/strippers, tweezers, soldering tools, microscope/magnifiers, testers, adjustable angle wrench, saw/vise/reamer, pick-up tools, wrench/spanner, socket wrench, aluminum cases, parts cases, other

 

Clients: [Mfrs, wholesalers] Trusco Nakayama Corp, Yamazen Corp, As One Corp, Saito Ind Co, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Tohken Thermo Tech Co, Kaga Spring Plant Co, Saito Plating Factory Inc, Mitsui Engineering & Shipbuilding Ind, Hirai Tools, other

 

Payment record: No Complaints

 

Location: Business area in Osaka.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

MUFG (Ueroku)

SMBC (Imazato)

Relations: Satisfactory

 

 

 

FINANCES

(In Million Yen)

 

　

　

31/12/2012

31/12/2011

31/12/2010

31/12/2009

Annual Sales

　

1,100

1,100

1,000

1,000

Recur. Profit

　

　

　

　

　

Net Profit

　

10

10

10

10

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

273

263

253

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

0.00

10.00

0.00

-9.09

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.91

0.91

1.00

1.00

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.02

UK Pound

1

Rs.86.78

Euro

1

Rs.68.83

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.